Institutional crypto custody firm Anchorage Digital has formed a custody exchange network along with five other global crypto companies in an attempt to improve the crypto marketplaces for investors.
Crypto exchange Binance.US has joined the network while CoinList, Blockchain.com, Strix Leviathan & Wintermute have given commitment to join Anchorage.
The custody exchange network aims to promote a fairer market structure, without any need of pre-funding along with safe participation by maintaining custody with Anchorage.
Exchanges, liquidity providers and custodians wanted to create a safe & segregated institutional custody vault, as per the co-founder and president of Anchorage, Diogo Monica.
There’s no conflict of interest between the institution that holds custody over a consumer’s assets and the institution that processes the exchange, Monica said.
“We actually genuinely believe it’s a better market structure going forward and answers a lot of the questions that regulators have had,” Monica stated.
“As the American digital asset industry continues to mature, there is growing demand from institutions for custody, liquidity and enhanced market access. By combining the advanced security of Anchorage with the best-in-class exchange technology of Binance.US, this integration eliminates multiple pain points to institutional trading, and marks a major milestone in the evolution of digital asset infrastructure,” Binance.US CEO, Brian Shroder said.
Anchorage joined the Alternative Investment Management Association (AIMA) during March. AIMA is a policy group for the fund management industry that has over 2,000 members, including most of the world’s hedge funds.
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